California: In the Black, with Crust

"Promises and piecrust," observed Dr.
Swift, "are made to be broken." By ignoring such cynicism, California's
Ronald Reagan risked a lot of pastry. During his election campaign, the
new Republican Governor had pledged "sound financial management," and
last week had the crust to demand the highest budget ever proposed in
any American state, buttressed by the biggest tax boost in California
history.

To keep the state moving ahead and at the same time in the black, Reagan
proposed a budget of $5,047,000,000 and called for $946 million in
increased taxes. The tax...